The Future of Recommerce: Innovations and Trends to Watch

Intro

Who says used products are out of style?

In 2022, over 40% of US online shoppers interacted with Recommerce websites and made a second-hand purchase. The same report shows a multi-billion dollar demand for used apparel, pre-owned watches, and other electronics.

What’s more shocking is that the volume of resale products in the US is expected to reach a whopping $100 billion by 2027. So, global volume should be nothing less than or close to a trillion.

Another annual report released by eBay states that 80% of GenZs buy second-hand products, making them the most significant driving force for Recommerce. Unsurprisingly, even the GenX and Millenials are not left behind.

These stats are enough to show you that Recommerce is a goldmine. But you need to stay ahead of the trend curve and implement some innovative strategies if you want to make good returns.

1. Sustainability-Centric Marketing Campaigns

Sustainability is the new vogue in town owing to the alarming increase in global warming. In a recent survey, over 40% of respondents were hopeful for a total transition into sustainable living.

More and more companies are also beginning to roll out measures that align with their customers’ interest in sustainability. Even the big tanks in automobile industries like Ford have switched to recyclable manufacturing materials.

With these shifts happening, it’s the best time to make your marketing campaigns green-centric. According to Stephan Baldwin, Founder of Assisted Living Center, “Putting sustainability at the forefront of your marketing tactic helps you resonate faster with your target market and audience. Your ads should tell your audience why reselling used products contributes positively to the environment.”

This is true because nearly 93% of consumers believe sustainability plays a significant role when deciding to sell pre-loved goods. So, leverage that.

2. Real-time Marketing With Augmented Reality

In a recent discussion with Tom Golubovich, Head of Marketing & Media Relations at Ninja Transfers, he says, “Most people are sceptical about buying a used product because they are either afraid of getting a counterfeit or an already broken good.”

And that’s where Augmented Reality (AR) comes in.

Let’s say you want to purchase a used Rolex watch online. Augmented reality gives you a 3D immersive vision with an overlay to see if it’s a good fit on your wrist, whether there are scratches or heavy dents that need cosmetics, and so on. Likewise, customers planning to buy second-hand apparel can easily overlay the graphic apparel on themselves and see how it looks before making the purchase.

It’s more or less like wearing a holographic image of a product on yourself in the partially virtual, partially real world. This innovation empowers your audience to make a detailed decision based on real-time try-on features.

3. Rise Of Mobile ReCommerce

There are currently about 5.61 billion smartphone users globally. And at least 70% of them have purchased online using their device. This figure keeps increasing as people dump brick-and-mortar shopping for mobile shopping.

To leverage this audience pool, Brooke Webber, Head of Marketing at Ninja Patches, says, “Every Recommerce brand must create a versatile and well-optimized mobile app. This saves your customers the hassle of logging in always and leads to an excellent shopping experience.”

Besides creating an app, you should also optimize your website for a seamless experience on mobile devices. This includes web loading speed, more straightforward navigation on smaller screens, and fewer touchpoints when shopping online. Other mobile marketing strategies, such as SMS and in-app advertisements, should also be prioritized.

4. Cross-Border Marketing

Although reselling used products has existed for centuries, people usually consider it a local or community-only business.

However, this narrative is changing. Technology is evolving rapidly and gives us so much flexibility by widening our geographical range of sales. That means you could be in China and still resell products to people residing in Paris.

Of course, Cross-border ecommerce comes with quite a few problems, such as limited currency options and disrupted supply chains leading to delays in international delivery. To resolve these challenges, Gerald Lombardo, Head of Growth at Popl, suggests integrating global and local payment options on your Recommerce platform.

Gerald says, “Recommerce business owners should collaborate with the local institutions and trucking companies in target regions. This will facilitate product delivery and minimize disruption of the supply chain. They should also build a cross-border platform that supports multiple languages and preemptively breaks possible communication barriers.”

In the realm of cross-border Recommerce, the clarity and fairness of your return and refund policies play a pivotal role in building consumer trust and satisfaction. Crafting policies that are both comprehensive and empathetic towards customer concerns is essential. It ensures that even when transactions span continents, customers feel secure in their purchasing decisions, reinforcing the global appeal of your Recommerce business.

5. Influencer Marketing

The influencer marketing industry was valued at $21.1 billion in 2023 – up from $16.4 billion in 2022. Shockingly, the internet search volume for influencer marketing grew by nearly 400% between 2016 and 2023. That’s a significant growth, indicating social media influencers' invaluable role in the current business world.

What’s more interesting is that you can generate $6.50 for every $1 you put into influencer marketing. The reason is simple. Contracting an influencer gives you access to their audience, which could sometimes number in millions or even tens of millions. This massive exposure and people’s trust in the influencer are enough to sky-rocket your sales within days.

To maximize your gains using this game-changing marketing approach, Puneet Gogia, Founder at Excel Champs, says, “You should focus on building good relationships with influencers relevant to what you sell. Otherwise, you might be wasting your capital interacting with the wrong set of audience.”

That’s true because hiring a TikTok game influencer marketer to promote your used apparel products won’t be as effective as hiring a fashion influencer. The latter has an audience more likely to be interested in apparel and beauty items than any other product.

To further enhance your influencer marketing strategy, consider incorporating giveaways into your collaborations. Giveaways can amplify the reach of your influencer partnerships by incentivizing audience engagement and participation. By offering exclusive products or experiences through giveaways, you not only attract attention but also foster a sense of excitement and community around your brand.

Wrapping Up Recommerce Innovations And Trends To Watch In 2024

Recommerce is here to stay. And that’s why brands must turn on their radar for emerging trends. Moreover, there’s no need to reinvent the wheel of innovation, as there are already tons in existence. So, pick them up and proactively implement the ones that align with your business goals.

In a nutshell, create sustainability-centric marketing campaigns, Introduce Augmented reality tech for real-time product reviews, and invest in mobile Recommerce for an excellent customer experience. Lastly, prioritize cross-border marketing and contract influencers relevant to your Recommerce niche.